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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.8 years Service code 15 · EIN 45-6062081 | Recordkeeping | $33,605 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $72,022 | $62,177+15.8% | $81,370-11.5% | $74,478-3.3% |
| Participation rate | 61.6% | 64.1%-2.4pp | 69.5%-7.9pp | 67.2%-5.6pp |
| Annual return | 15.69% | 16.62%-0.9pp | 24.85%-9.2pp | 1370.56%-1354.9pp |
| Employer contribution / active EE | $1,681 | $1,881-10.6% | $2,464-31.8% | $2,626-36.0% |
| Participant deferral / active EE | $2,827 | $3,219-12.2% | $3,885-27.2% | $4,350-35.0% |
| Admin fee / account holder | $255 | $1,927-86.8% | $5,749-95.6% | $1,946-86.9% |